ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -GDP per hour worked is a measure of labour productivity. It measures how efficiently labour input is combined with other factors of production and used in the production process.

Detailed explanation-2: -Productivity is defined as the quantity of goods and services produced from each hour of a worker’s time.

Detailed explanation-3: -Productivity is a measure of economic performance that compares the amount of goods and services produced (output) with the amount of inputs used to produce those goods and services.

Detailed explanation-4: -Labor productivity, also known as workforce productivity, is defined as real economic output per labor hour. Growth in labor productivity is measured by the change in economic output per labor hour over a defined period.